Survey: Insurers Expect to Spend Significantly More on E-Business.More than 150 leading insurers around the world expect to increase their e-business technology spending by 89% over the next three years, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a survey issued by PricewaterhouseCoopers and the Economist Intelligence Unit The Economist Intelligence Unit (EIU) is part of The Economist Group. It is a research and advisory company providing country, industry and management analysis worldwide and incorporates the former Business International Corporation, a U.S. . The survey found that the investment will focus primarily on customer interaction and other organizational redesign re·de·sign tr.v. re·de·signed, re·de·sign·ing, re·de·signs To make a revision in the appearance or function of. re . Respondents expect e-business to generate an average 19% in annual savings within three years, compared with the 7% saved today. Strengthening customer relationships and cutting costs are among the top e-business priorities cited by those surveyed. "The success of e-insurance relies on the ability of companies to offer their customers the speed and ease of the Internet along with customer service that real-life agents and brokers already offer," Kathy Ford of the Economist Intelligence Unit said in a statement. Despite the challenges posed by legacy operations and systems, a majority of the responding carriers and agents indicated that within three years they will have Web-enabled most of their major administrative processes, including new business acquisitions, renewals, billing, collections, claims and salvage salvage, in maritime law, the compensation that the owner must pay for having his vessel or cargo saved from peril, such as shipwreck, fire, or capture by an enemy. Salvage is awarded only when the party making the rescue was under no legal obligation to do so. and subrogation The substitution of one person in the place of another with reference to a lawful claim, demand, or right, so that he or she who is substituted succeeds to the rights of the other in relation to the debt or claim, and its rights, remedies, or Securities. processing, according to the survey. In addition, nearly 40% of carriers say offering banking and wealth-management services online will be an important strategy. |
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